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Gold and silver hit new record highs - how high could they go?

ended 23. December 2025

The price of gold and silver hit new record highs Monday, with the former breaking through $4400 for the first time. Why is this? Is 2026 shaping up to be THE year of gold and silver? Also, some are predicting the gold price could surpass $5,000 an ounce in 2026 while the price of silver could top $100. Do you agree? Also, even if they don't hit those heights, are you expecting the price of both to be higher come the end of 2026 — and, if so, does now represent a solid buying opportunity or is it a risky bet given how high prices are currently? What's your advice to regular investors keen to get exposure to gold?

5 responses from the Newspage community

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Anita Wright
Chartered Financial Planner at Ribble Wealth Management
Gold and silver making new highs fits a very specific pattern: markets are obsessing over the next rate cut, while ignoring what matters most - what inflation is likely to look like in 2026. Inflation could surge, not because growth is strong, but because authorities become the buyer of last resort to avert a broader collapse. When the bubble breaks, they will “print, print, print” to prop up banks and zombie firms — the very backdrop in which precious metals re-price. It is not so much gold / silver rising as fiat currencies falling. Gold’s purchasing power is viewed as relatively stable over long periods. Silver, in this view, is also “money” importantly so in China and not merely an industrial metal, which matters when the world begins to move away from the dollar-based system. The decision to buy metal hinges on why you would own them. If the purpose is preservation then the case is not about timing a dip. If the purpose is a short-term trade, then caution is warranted.
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Jim Tannahill
Managing Director at Suttons and Robertsons
At over $4,400 an ounce, Gold is up around 70% on the year. Silver on the other hand is up 140% so it is certainly the star of the show right now. We’ve seen a sharp rise in people selling unwanted items, but also upwards of 130% increase in those using our pawnbroking service to borrow against their assets. For many of our customers, it means they can literally use the family silver to now borrow twice the amount we could offer at the start of the year. Whilst many still are taking advantage of high prices to sell unwanted or broken jewellery and silver pieces, we’re seeing a strong trend for holders of this asset class to leverage their gold and silver to unlock short-term cash without losing ownership so they can realise any future growth potential. Those who took that decision earlier this year will already have benefited from the exponential growth.
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Rob Mansfield
Independent Financial Advisor at Rootes Wealth Management
As we approach Christmas, it's timely that one of the gifts from the Wise men is making headlines. Gold has performed very well over the past couple of years. For thousands of years gold has been seen as a store of value against politics and inflation. The price of metals like gold and silver can move quickly and so I'd be wary of buying in at this level although that's not to say the price won't go higher. It's a sign that our global politics lack credibility.
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Scott Gallacher
Director at Rowley Turton
Gold and silver could continue to rise in 2026, but I’d be cautious about buying now, or even holding, purely because of the recent strong price rises. Gold despite it's supposed safe haven status is far from safe and is very volatile. Beware of FOMO driving your investment decisions
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Paul Williams
Managing Director at Solomon Global
Against a backdrop of Trump trade tariffs, geopolitical tension, and global economic uncertainty, gold and silver (and copper) have recorded multiple all-time highs in 2025 as retail, industrial, and institutional demand have soared.

2025 has seen exceptional rallies for gold and silver and has reset expectations regarding the precious metals market. These price moves have been driven by fundamental forces rather than speculation, and under current conditions, we see gold continuing to trend higher, with the potential to reach $5,000 an ounce by the end of 2026 (in line with, or below, forecasts from J.P. Morgan, Bank of America, HSBC, Deutsche Bank and BNP Paribas). Silver is underpinned by supply and demand imbalances. Despite gold’s phenomenal year, silver has outperformed and is the fast-moving metal of the pair; a $100 silver price by the end of 2026 is certainly within the realm of possibility if current dynamics persist.